Germany Comes Down Hard On Crypto In 5th AMLD Plans

Germany’s transposition of European financial crime laws looks set to upset the crypto sector, with a draft bill aiming to put a hard line between virtual currency firms and other financial services and imposing stringent requirements on wallet providers.

The country’s federal government presented a legislative proposal in late July that would bring the 5th Anti-Money Laundering Directive (5th AMLD) into domestic law, following publication of the draft bill in May.

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